Lisa Marie just filed docs in her divorce from Michael Lockwood, and they contain the bombshell news ... the King's daughter is more than $16 million in the red. In the docs she says most of her debt is unpaid taxes from 2012 to 2015, totaling more than $10 million.

She also says she has a house in the U.K. she's desperately trying to unload because she's defaulted on the mortgage. According to the docs, obtained by TMZ ... that's another $6 mil she owes.

LMP says the rest of her debt is mostly credit cards and unpaid attorneys' bills.

She's revealing all of this because Lockwood is demanding she pay more than $450k for his attorney fees, and she's clearly saying ... I ain't got it, dude.

Fun facts:
- Lisa Marie sold off 85% of Elvis Enterprises in 2004 for $100 million
- The Elvis estate still hauls in revenue north of $20 million annually

Way north of $20 mil annually. She was dumb as fuck if she sold off that high a percentage.

Still, how do you have (or are worth) over $100 million and now broke? These people who are rich and famous seriously need better financial sense, financial planners...some goddamned thing to teach them or give them incentive not to end up broke before they're too old to generate income with the ease that being younger and able to get up out of bed would allow.

Stopping getting married and definitely stopping breeding would certainly help. Stopping drugging would also help.

She might need to start pimping these kids out Pimp Mama K style. Though lord knows it's not gonna be the trolls she had with this fucker. Not very easily, anyway.

^She IS an idiot and totally brainwashed by Morticia. It's also insane that - through the revenues of Graceland, once it was turned into a carnival and before she sold its rights - she owned more than Elvis ever did during his lifetime, yet is now more broke than he ever was, too. And he mostly "lost" a lot of his money because he gave truckloads to charity (anonimously) and because he showered everybody from relatives, his gang, his staff, his girlfriends and their families and of course perfect strangers with gifts ranging from something as simple as paying grocery bills to buying them cars and houses. She seems to have spent it mostly on herself.

It seems like rich folk are always broke come divorce time. Then later, they are as flush as they need to be.

If she's pulling 20M a year, her debts, this particular year, may be more than that, but no way she can't pay down those debts over time and end up just fine. She just won't until she has unloaded the Mr.

That's like someone making 50k a year saying their broke because they have a 100K mortgage.

Okay, so she's not really broke then. As far as Priscilla, if anything her involvement will help the situation because she's managed to live off Elvis' money forever! Plus I would not put it past them to have more in Priscilla's name.

Neither of them are CO$ any longer, so hopefully they don't have to keep giving that cult hush money. Maybe they weren't stupid enough to reveal anything that would truly hurt them if it came out.

So yeah, if Lisa can quit being a junkie, stop getting married and get her tubes tied they should be straight.

She just wants the ex to go away and then she will be comfortable again. Priscilla (the divorced wife) is still making loads of money off Elvis even if she probably resents having to support her 50 year old kid and her grandchildren. It's what Elvis would have wanted!

She just wants the ex to go away and then she will be comfortable again. Priscilla (the divorced wife) is still making loads of money off Elvis even if she probably resents having to support her 50 year old kid and her grandchildren. It's what Elvis would have wanted!

Yes, and per her talent for rewriting Elvis' history, he would also have been "very proud of LMP and how she's lived her life, how she handles everything and of course of her immense musical talent".